- EUR / JPY fell to 125.91, hitting the lowest level in four weeks.
- The Key Support Area Under Pressure: A close below 125.90 would point to a stronger correction.
He EUR/JPY it continues to correct lower after hitting multi-year highs last week at 127.50. The pair is hovering around 126.00, testing a critical support area between 126.00 and 125.80.
The technical indicators at this time favor the decline. The key daily moving averages are turning south and so are the momentum indicators. EUR / JPY has yet to confirm the breakout. Current levels warrant some volatility later, including the possibility of bullish reversals.
A closing below 125.80 would target the 124.90 / 125.00 area and then 124.20. On the upside, a rally above 126.50 would keep the cross in the current range, easing downward pressure. A weekly close above 127.15 would indicate a resumption of the dominant uptrend.
EUR / JPY daily chart
Technical Levels
EUR/JPY
| Panorama | |
|---|---|
| Today’s Last Price | 126.05 |
| Today’s Daily Change | -0.21 |
| Today’s Daily Change% | -0.17 |
| Today’s Daily Opening | 126.26 |
| Trends | |
|---|---|
| SMA of 20 Daily | 126.53 |
| SMA of 50 Daily | 125.47 |
| SMA of 100 Daily | 124.8 |
| 200 SMA Daily | 122.73 |
| Levels | |
|---|---|
| Daily Preview Maximum | 126.74 |
| Daily Previous Minimum | 126.22 |
| Weekly Preview Maximum | 127.49 |
| Weekly Prior Minimum | 126.05 |
| Monthly Previous Maximum | 127.24 |
| Minimum Previous Monthly | 124.38 |
| Daily Fibonacci 38.2% | 126.42 |
| Fibonacci Daily 61.8% | 126.54 |
| Daily Pivot Point S1 | 126.07 |
| Daily Pivot Point S2 | 125.88 |
| Daily Pivot Point S3 | 125.54 |
| Daily Pivot Point R1 | 126.6 |
| Daily Pivot Point R2 | 126.93 |
| Daily Pivot Point R3 | 127.12 |
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